# Funding Alert: Advanced Manufacturing and Innovation Competitiveness (AMIC)

**URL:** <https://yodl.cfin-rcia.ca/t/funding-alert-advanced-manufacturing-and-innovation-competitiveness-amic/2433>\
**Category:** Open Forum\
**Created:** [August 6, 2024, 2:47pm UTC](https://yodl.cfin-rcia.ca/t/funding-alert-advanced-manufacturing-and-innovation-competitiveness-amic/2433 "2024-08-06T14:47:00Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![edelazari](https://yodl.cfin-rcia.ca/letter_avatar_proxy/v4/letter/e/6b4554/32.png) [@edelazari](https://yodl.cfin-rcia.ca/u/edelazari)\
**Post date:** [August 6, 2024, 2:47pm UTC](https://yodl.cfin-rcia.ca/t/funding-alert-advanced-manufacturing-and-innovation-competitiveness-amic/2433/1 "2024-08-06T14:47:00Z")

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The Advanced Manufacturing and Innovation Competitiveness (AMIC) program offers financial support to advanced manufacturing companies, especially small and medium-sized enterprises across Ontario.

Funding Amount:

- Loan: 15% to a maximum of $5 million; interest-free for up to 4 years. Grant: 30% of the 15% loan, up to $500K, may be forgiven if targets are met.

- Rural Ontario: Grants of 15% to a maximum of $500,000 for companies with less than 100 employees.

- Foreign Direct Investment: Up to $1,500,000 in grants for strategic projects.

Region: Ontario

Eligible Applicants: Businesses located in Ontario that meet the following criteria:

- Minimum of 3 years of operations and financial statements.

- At least 10 employees.

- Creation of 5+ new jobs or upskilling of 5+ current jobs.

- Minimum project investment of $500K.

Application Timeline:

Intake Opens: July 29th, 2024

Application Deadline: September 26th, 2024

Eligible Projects:

- Capital equipment

- Technology adoption

- Upskilling: talent and training

- Expansion, new products, new markets

For more information and to start your application process, please reach out to me.

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**Author:** ![richa](https://yodl.cfin-rcia.ca/letter_avatar_proxy/v4/letter/r/4a4a54/32.png) [@richa](https://yodl.cfin-rcia.ca/u/richa)\
**Post date:** [August 7, 2024, 2:25pm UTC](https://yodl.cfin-rcia.ca/t/funding-alert-advanced-manufacturing-and-innovation-competitiveness-amic/2433/2 "2024-08-07T14:25:00Z")

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Thank you for sharing. [@Alex Barlow](https://www.cfin-rcia.ca/network/members/profile?UserKey=ac672a6d-3c23-49fa-8d52-5d1bd5b1d31a) would you have any members in mind who could benefit?